Etiqueta: Report

Berkshire Hathaway exits longtime stake in Chinese EV maker BYD, ending 17 years of Buffett backing amid shrinking profits and rising competition.

BYD Co. shares dropped the most in three weeks after a report that Warren Buffett’s investment firm offloaded its stake in the Chinese electric-vehicle maker.

Berkshire Hathaway Inc. has exited its entire holding in BYD, according to a CNBC report on Sunday that also cited a spokesperson for the US firm confirming the development. A filing by Berkshire Hathaway Energy, the subsidiary that held BYD’s shares, listed the value of the investment as zero as of March 31, CNBC reported. The past two decades have seen BYD go from a little-known Chinese battery provider for cell phones to the nation’s biggest electric and hybrid vehicle maker.

Berkshire began trimming its BYD holdings in 2022, cutting the stake to 54 million shares before fully exiting this year.

A BYD executive said this was a normal occurrence and expressed gratitude to Munger and Buffett for their recognition of BYD.

①BerkshireHathaway has reportedly fully divested its holdings in BYD. ②Southbound capital has recorded net inflows for 18 consecutive weeks. ③The market is betting that interest rate cuts may exceed the Federal Reserve's expectations. ④Li Auto and CATL have reached a comprehensive strategic cooperation agreement.

The company's exports more than doubled in the first six months of this year.

Berkshire Hathaway has completed exited its extremely profitable equity investment in the Chinese electric vehicle maker BYD.

BYD vs. TTWO: Which Stock Is the Better Value Option?